Clipper Realty Inc. (NYSE:CLPR – Get Rating) announced a quarterly dividend on Thursday, May 12th, Wall Street Journal reports. Shareholders of record on Friday, May 20th will be given a dividend of 0.095 per share on Friday, May 27th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date is Thursday, May 19th.
Clipper Realty has a dividend payout ratio of -158.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Clipper Realty to earn $0.44 per share next year, which means the company should continue to be able to cover its $0.38 annual dividend with an expected future payout ratio of 86.4%.
NYSE CLPR opened at $8.61 on Friday. The business’s 50-day moving average price is $9.10 and its two-hundred day moving average price is $9.23. Clipper Realty has a 12 month low of $7.15 and a 12 month high of $10.41.
Institutional investors have recently made changes to their positions in the stock. Citigroup Inc. boosted its position in shares of Clipper Realty by 123.4% during the 4th quarter. Citigroup Inc. now owns 3,107 shares of the company’s stock valued at $31,000 after purchasing an additional 1,716 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Clipper Realty by 150.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 3,167 shares of the company’s stock worth $26,000 after buying an additional 1,900 shares during the period. Bank of America Corp DE raised its stake in Clipper Realty by 76.4% during the 4th quarter. Bank of America Corp DE now owns 8,585 shares of the company’s stock worth $85,000 after buying an additional 3,717 shares during the period. Squarepoint Ops LLC raised its stake in Clipper Realty by 17.8% during the 4th quarter. Squarepoint Ops LLC now owns 12,086 shares of the company’s stock worth $120,000 after buying an additional 1,824 shares during the period. Finally, Rhumbline Advisers raised its stake in Clipper Realty by 15.7% during the 4th quarter. Rhumbline Advisers now owns 17,034 shares of the company’s stock worth $169,000 after buying an additional 2,314 shares during the period. Institutional investors own 39.59% of the company’s stock.
About Clipper Realty (Get Rating)
Clipper Realty Inc (NYSE: CLPR) is a self-administered and self-managed real estate company that acquires, owns, manages, operates and repositions multifamily residential and commercial properties in the New York metropolitan area, with a portfolio in Manhattan and Brooklyn.
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